The nominal interest rate associated with an ordinary general annuity is 7% compounded annually. Rounded to the nearest 0.001%, what is the corresponding periodic rate of interest that matches the payment interval for:
a. Semiannual payments?
b. Quarterly payments?
c. Monthly payments?

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The Answer of The nominal interest rate associated with an ordinary general annuity is 7% compounded annually. Rounded to the nearest 0.001%, what is the corresponding periodic rate of interest that matches the payment interval for:
a. Semiannual payments?
b. Quarterly payments?
c. Monthly payments?

The Nominal Interest Rate Associated with an Ordinary General Annuity